In late-2016, early 2017, we retraced 61.8% (fib) before building back up throughout 2017 to $10000 for the first time and beyond. You can expect a similar retrace this time as a secondary bear trend grips the market over the next month or two. Scarcity is a factor of time. In Bitcoin's case, it takes c. 18 months for the new reality of 50% of the natural sell side evaporating to fully impact the market. Of course, there are other factors but they all play into this framework, like clockwork. Tick tock!
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The price was $18000 when this was shared
We're more than halfway to the target and holding strong
Expect the peak for this cycle to be around $160000